Marshall Wace LLP purchased a new stake in shares of W W Grainger Inc (NYSE:GWW) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,924 shares of the industrial products company’s stock, valued at approximately $1,482,000.
Other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. increased its position in W W Grainger by 102.2% during the fourth quarter. Bessemer Group Inc. now owns 186 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 94 shares during the last quarter. Captrust Financial Advisors increased its position in W W Grainger by 284.0% during the fourth quarter. Captrust Financial Advisors now owns 192 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 142 shares during the last quarter. Quadrant Capital Group LLC increased its position in W W Grainger by 281.4% during the first quarter. Quadrant Capital Group LLC now owns 267 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 197 shares during the last quarter. Mascoma Wealth Management LLC acquired a new stake in W W Grainger during the first quarter worth about $120,000. Finally, Carroll Financial Associates Inc. increased its position in W W Grainger by 43.3% during the first quarter. Carroll Financial Associates Inc. now owns 440 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 133 shares during the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.
In other W W Grainger news, VP Eric R. Tapia sold 180 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $272.58, for a total value of $49,064.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 8.50% of the company’s stock.
W W Grainger (NYSE:GWW) last announced its earnings results on Monday, April 22nd. The industrial products company reported $4.51 EPS for the quarter, beating analysts’ consensus estimates of $4.42 by $0.09. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.88 billion. W W Grainger had a net margin of 7.12% and a return on equity of 46.09%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $4.18 EPS. As a group, sell-side analysts predict that W W Grainger Inc will post 17.91 EPS for the current year.
W W Grainger announced that its board has approved a stock repurchase program on Wednesday, April 24th that allows the company to repurchase 5,000,000 outstanding shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
Several research analysts have weighed in on the stock. Stephens reaffirmed a “buy” rating and set a $34.00 target price on shares of Guaranty Bancshares in a research note on Tuesday, April 23rd. Gordon Haskett raised shares of W W Grainger from an “underperform” rating to a “hold” rating and set a $264.58 price objective for the company in a research note on Friday, May 17th. Buckingham Research lowered their price objective on shares of Wells Fargo & Co from $53.00 to $47.00 and set a “neutral” rating for the company in a research note on Wednesday. Zacks Investment Research lowered shares of Wix.Com from a “hold” rating to a “sell” rating in a research note on Monday, April 8th. Finally, William Blair reissued a “market perform” rating on shares of W W Grainger in a research note on Monday, April 22nd. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $305.15.
W W Grainger Company Profile
W.W. Grainger, Inc distributes maintenance, repair, and operating (MRO) products and services in the United States, Canada, Europe, Japan, Mexico, and internationally. The company provides material handling equipment, safety and security supplies, lighting and electrical products, power and hand tools, pumps and plumbing supplies, cleaning and maintenance supplies, and metalworking tools, as well as gloves, ladders, motors, and janitorial supplies.
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